SBA – PPP Forgiveness


In response to the COVID-19 pandemic the Small Business Administration is providing small businesses an opportunity to borrow 2.5x its monthly payroll expense.  Use this step by step guide to apply for this special program.


Download the Forgiveness portion of the application.  This will determine if you are eligible for the program.  Complete the form by initialing next to each certification.  Scan or take a picture of the file and save as a PDF, JPG, or PNG.  You will upload this later.


Upload documents to the form below.  Required documents include the completed application documents to the form below.





Frequently Asked Questions

Eligible Borrowers: Businesses, nonprofit organizations, veterans’ organizations and tribal businesses with up to 500 employees or, if applicable, the SBA-size standard for the business’ industry. Employee count includes those employed on a full-time, part-time or other basis. PPP also extends eligibility to individuals who operate under a sole proprietorship, as an independent contractor and certain self-employed individuals. Relaxed eligibility requirements for businesses in certain industries, including the hospitality and food service industries.

Permitted Loan Uses: Generally, a borrower can use the PPP funds to cover: (a) payroll costs; (b) costs related to the continuation of group health care benefits; (c) employee salaries; (d) mortgage interest payments; (e) rent; (f) utilities; and (g) interest on any other debt obligations that were incurred before the covered period.

  • General: All loan terms will be the same for every borrower, regardless of the lender.
  • Interest Rate: Fixed rate of 1.00%.
  • Maturity: Two years, with no prepayment penalties or fees.

No, the SBA will waive all guaranty fees, including upfront and annual servicing fees, with respect to PPP loans.

No personal guarantee or collateral is required in order for a borrower to obtain a PPP loan. In fact, the SBA has no recourse against any individual shareholder, member or partner of an eligible borrower for nonpayment of any covered loan, unless the loan proceeds are used for impermissible purposes. Moreover, per the Initial Guidance, if loan proceeds are used for fraudulent purposes, criminal charges will be pursued.

Yes. Per the Initial Guidance, the first payment will be deferred for six months. However, interest will continue to accrue during this period.

Funds are provided in the form of loans that will be fully forgiven when used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees.